Deals and People
2019 Awards Nominations Are Open
The nomination process has begun for the 2019 Plan Sponsor of the Year and Retirement Plan Adviser of the Year Awards.
LATEST NEWS
(b)lines Ask the Experts – Auto-Enrollment in Church Plans Where States Require Consent
“We are a church 403(b) plan sponsor, whose headquarters is in a state that requires consent of the employee prior to making any deductions from salary. Could we still add an auto-enrollment provision to our plan?”
Should Plan Sponsors Purchase Annuities for Their Pension Plan?
David Davala, with Findley, discusses considerations for defined benefit (DB) plan sponsors before deciding whether to transfer some of their pension risk to an annuity provider.
FASB Announces Changes to DB Plan Disclosure Requirements
Some disclosure requirements are removed from Subtopic 715-20, Compensation—Retirement Benefits—Defined Benefit Plans—General, and some requirements are added.
U.S. Retirement System Still Ranks Low, But Slightly Improved
This year’s Melbourne Mercer Global Pension Index suggests reducing pre-retirement leakage; requiring that part of the retirement benefit must be taken as an income stream; and increasing the funding level of the Social Security program are just some steps that can be taken to improve the U.S. retirement system.
INSIDE THE MAGAZINE PLANSPONSOR August/September 2018
MORE NEWS
U.S. Demand Grows for ‘Safe ESG’ via Fixed-Income Vehicles
There is still not very much discussion in the U.S. about fixed-income investments pursuing ESG themes, according to BlueBay Asset Management’s My-Linh Ngo, but there are some compelling opportunities out there that institutional investors should consider.
DOL Seeks to Expand Access to ‘Association Retirement Plans’
These plans, also known as open multiple employer plans, allow small businesses to join together to offer defined contribution retirement savings benefits.
SURVEY SAYS: Halloween Parties
Halloween parties are not my favorite, but I usually get invited to one.
More Providers Offering Resources for National Retirement Security Week
Mutual of America and TIAA have announced resources for plan sponsors to educate employees.
Dignity Health ‘Church Plan’ Litigation Defeats Dismissal Motions
The case already made it once to the Supreme Court which helped to clarify what it means to be a “church plan” run by a principal-purpose organization under ERISA—but the underlying facts of the lawsuit are still being fought over in district court.
Retirement Industry People Moves
The Hilb Group Acquires Actuarial Consulting Firm; Mercer Hires Past Actuarial Associate as Principal; ESOP Consultant Joins Ascensus TPA Solutions; and more.
Millennial Educators Especially Want Retirement Savings Investing Help
While a majority cite credit card and student loan debt as obstacles to reaching financial goals, Millennial educators are paying attention to retirement savings.
DOL Not Giving Up on Fiduciary Rule
Both the DOL and SEC have a September 2019 date for a final action on corresponding fiduciary and best interest rules—could they be collaborating?
OPERS Reduces Return Assumptions
OPERS said the move is expected to lower its funding level, but increase the time in which it can pay off liabilities.
SEC Commissioner Calls for Simpler Ways to Compare Investments
Commissioner Stein also encouraged the SEC to implement “mandatory periodic disclosures about the value of investors’ 401(k) accounts to show how much income will likely be generated in retirement.”
Merrill Lynch Increases Personalization of Education Offerings
Its Education Center now covers seven life priorities; it has bundled its educational resources by topics; and when participants meet with financial wellness specialists, they are given a personal consultation action checklist.